Afternoon markets: FTSE 100 slips despite hopes

The FTSE 100 index slipped by 0.5% at the close of trading to 5,519 as markets failed to show any strong positive reaction to developments within the eurozone.

Despite the appointment of Mario Monti as Italian prime minister and a successful bond sale – at elevated prices – markets were largely subdued.

The biggest riser was broadcaster ITV, which saw share price rise by 3.3% to 65.75p after reporting a 4% rise in revenues for the nine months to September 30.

Luxury goods company Burberry rose 3.2% to 1,421p, medical devices manufacturer Smith & Nephew was up 2.6% to 572.5p, Vodafone increased by 1.5% to 182.7p, while Royal Dutch Shell saw its ’B’ share class climb 1.2% higher to 2,296.5p.

The biggest faller was Vedanta Resources, down 3.6% to 1,120p, as Asia-focused bank Standard Chartered dropped 3.3% to 1,356.5p.

Financial Times publisher Pearson and engineer Weir Group both fell 2.8% to 1,105p and 1,190.5, respectively, as Barclays slipped 2.7% lower to 174.05p.

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